XAD.TO vs. JEDI

Last updated Jun 4, 2026

XAD.TO (iShares U.S. Aerospace & Defense Index ETF) and JEDI (Defiance Drone & Modern Warfare ETF) are both Aerospace & Defense funds - XAD.TO tracks the Dow Jones U.S. Select Aerospace & Defense Index while JEDI tracks the BITA Drone & Modern Warfare Select Index. Both are passively managed. A 0.61 correlation means they provide meaningful diversification when combined. XAD.TO charges 0.44%/yr vs 0.69%/yr for JEDI.

Performance

XAD.TO vs. JEDI - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares U.S. Aerospace & Defense Index ETF (XAD.TO) and Defiance Drone & Modern Warfare ETF (JEDI). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

XAD.TO is traded in CAD, while JEDI is traded in USD. To make them comparable, the JEDI values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, XAD.TO achieves a 6.26% return, which is significantly lower than JEDI's 54.26% return.

XAD.TO

• 1D: -0.94%
• 1M: 7.08%
• YTD: 6.26%
• 6M: 11.49%
• 1Y: 27.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JEDI

• 1D: -8.39%
• 1M: 36.23%
• YTD: 54.26%
• 6M: 61.38%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

XAD.TO vs. JEDI - Yearly Performance Comparison

	2026 (YTD)	2025
XAD.TO iShares U.S. Aerospace & Defense Index ETF	6.26%	2.70%
JEDI Defiance Drone & Modern Warfare ETF	54.26%	-5.22%

Correlation

The correlation between XAD.TO and JEDI is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 29, 2025	0.61

Return for Risk

XAD.TO vs. JEDI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

XAD.TO

XAD.TO Risk / Return Rank: 35
XAD.TO Sharpe Ratio Rank: 37
XAD.TO Sortino Ratio Rank: 38
XAD.TO Omega Ratio Rank: 34
XAD.TO Calmar Ratio Rank: 37
XAD.TO Martin Ratio Rank: 31

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

XAD.TO vs. JEDI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Aerospace & Defense Index ETF (XAD.TO) and Defiance Drone & Modern Warfare ETF (JEDI). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	XAD.TO	JEDI	Difference
Sharpe ratio: Return per unit of total volatility	1.34	—	—
Sortino ratio: Return per unit of downside risk	2.00	—	—
Omega ratio: Gain probability vs. loss probability	1.23	—	—
Calmar ratio: Return relative to maximum drawdown	1.86	—	—
Martin ratio: Return relative to average drawdown	4.77	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	XAD.TO	JEDI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.34	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.84	1.60	+0.24

Drawdowns

XAD.TO vs. JEDI - Drawdown Comparison

The maximum XAD.TO drawdown since its inception was -16.06%, smaller than the maximum JEDI drawdown of -21.62%. Use the drawdown chart below to compare losses from any high point for XAD.TO and JEDI.

Drawdown Indicators

	XAD.TO	JEDI	Difference
Max Drawdown Largest peak-to-trough decline	-16.06%	-21.62%	+5.56%
Max Drawdown (1Y) Largest decline over 1 year	-14.91%	—	—
Current Drawdown Current decline from peak	-8.53%	-12.51%	+3.98%
Average Drawdown Average peak-to-trough decline	-3.03%	-9.67%	+6.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.80%	—	—

Volatility

Volatility by Period

	XAD.TO	JEDI	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.64%	—	—
Volatility (6M) Calculated over the trailing 6-month period	17.11%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	20.72%	47.17%	-26.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.21%	47.17%	-25.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.21%	47.17%	-25.96%

XAD.TO vs. JEDI - Expense Ratio Comparison

XAD.TO has a 0.44% expense ratio, which is lower than JEDI's 0.69% expense ratio.

Dividends

XAD.TO vs. JEDI - Dividend Comparison

XAD.TO's dividend yield for the trailing twelve months is around 0.33%, while JEDI has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
JEDI Defiance Drone & Modern Warfare ETF	0.00%	0.00%	0.00%	0.00%
XAD.TO iShares U.S. Aerospace & Defense Index ETF	0.33%	0.35%	0.44%	0.24%

Frequently Asked Questions

Can I hold both XAD.TO and JEDI in my portfolio?

XAD.TO and JEDI have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, XAD.TO or JEDI?

On fees, XAD.TO is cheaper at 0.44% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, XAD.TO or JEDI?

XAD.TO is cheaper with a 0.44% expense ratio, compared with 0.69% for JEDI.

What is the main difference between XAD.TO and JEDI?

XAD.TO tracks Dow Jones U.S. Select Aerospace & Defense Index, while JEDI tracks BITA Drone & Modern Warfare Select Index. Their fees differ too: 0.44% for XAD.TO and 0.69% for JEDI.